US Non-profit Public Citizen calls for a federal investigation into whether President Donald Trump has violated laws that apply for gifts by promoting an alleged promotion of a solo-token-based memor, with reference to concern about non-traceable foreign payments .
The government, business and consumer watchdog has formally submitted its complaint With the Ministry of Justice and the Office of Government Ethics on Wednesday, referring to Trump’s social media post“ of which it is, were used to promote his Official (Trump) Token after he took office in January.
The Doj, Oge and Public Citizen did not immediately respond to requests for comments. Attempts to reach the president through the White House press office remained unanswered.
Trump seems to “ask for money in exchange for nothing – that is, asking for a gift that will personally benefit him,” wrote Public Citizen’s Bartlett Naylor and Craig Holman in their complaint.
The complaint quotes various legal concerns about Trump’s promotion of the meme coins, involving several overlapping areas of federal legislation, constitutional provisions and ethical guidelines.
Apart from the gift rules, Public Citizen issued constitutional concern about the assets of the MEME currency to mask foreign payments that were prohibited under the Emolument clause.
“Due to the nature of a cryptocurrency exchange, it is difficult to know whether foreign state actors donate the president by buying a Trump -Meme,” the complaint states.
The complaint argues that allowing such requests could be uncontrolled the exploitation of the public office for profit, the hollowing of federal ethical laws, while argumentation officials must be excluded from personal enrichment by such resources.
“Should the president be allowed to enrich himself in this way, another politician[s] Could follow this path, “Naylor and Holman wrote.
Follow the money
The meme token’s website Explains that it is 80% owned by CIC Digital LLC, a branch of the Trump organization that is checked by Trump’s Revocable Trust, of which he is the only beneficiary.
Data Visualized via Bubblemaps to show The transfer activity and the concentration of token, with the largest bell of 80% as described in its tokenomic model.
The token itself has shaved 32% of its value in the past week as a result of a broader crypto -the gang and increased volatility caused by Trump’s proposed rates About China, Canada and Mexico.
While the president has since declined rates at CAnada and Mexico, a tax of 10% on all Chinese import remains in place.
In response, China imposed retribution ratesIncluding a 15% tax on American coal and LNG and 10% on crude oil, agricultural machinery, trucks and sedans with large engine imported from the US
Published by Sebastian Sinclair
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